Mirae Asset Mutual Fund has announced changes in the fund management responsibilities of several schemes with effect from August 14, 2026. According to the fund house announcement, the transition involves multiple schemes across different categories including arbitrage funds and liquid ETFs.
The Mirae Asset Overnight Fund - Regular Plan has a latest declared NAV of ₹1,399.5433 as of August 17, 2026. Over the past five years, the scheme has delivered an annualised return of 5.60% as of August 17, 2026. The fund has an expense ratio of 0.14% with an overall AUM of ₹1,562 crore. The scheme is currently managed by Pranavi Kulkarni and allows minimum investments of ₹1,000 for lumpsum and ₹99 for SIP.
The Mirae Asset Arbitrage Fund will see changes in its fund management team. As reported by the fund house, the existing fund managers Krishnpal Yadav (Debt), Jigar Shethia (Equity) and Jignesh N. Rao (Equity) will be replaced by Pranavi Kulkarni (Debt), Jigar Shethia (Equity) and Jignesh N. Rao (Equity) from August 14, 2026. The fund continues to maintain its existing equity and debt management structure.
The Mirae Asset Nifty 1D Rate Liquid ETF schemes are also part of the transition. According to the fund house announcement, both the Growth and IDCW variants of the liquid ETF will see their existing fund manager Krishnpal Yadav replaced by Pranavi Kulkarni. This change affects both variants of the same scheme structure.
The Mirae Asset Overnight Fund is mandated to invest in bonds having a maturity of just one day. The fund seeks to generate returns commensurate with low risk and providing high level of liquidity, through investments made primarily in overnight securities having maturity of 1 business day. Overnight funds are suitable for parking emergency corpus or idle money for capital preservation, earning slightly higher returns than savings bank account with low volatility.
